Regulatory Alerts2018-02-15
Added · Updated
Outward remittance facilities for exporters
Authorized Dealers may allow exporters to remit up to USD 5,000 or equivalent for bonafide service payments to beneficiary bank accounts abroad when adequate funds are not available in the Exporter’s Retention Quota account. Requests must be supported by invoices specifying service details and applicable tax deductions, with the remitted amount adjusted against subsequent export proceeds via deduction from the retainable amount in the ERQ or margin account. These instructions are effective immediately.
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